The authors of this paper develop a theoretical model of emissions trading in the presence of transaction costs, calibrating the model to annual transactions and compliance data in the European Union emissions trading scheme over its second phase. Read more
We formally study the determinants, magnitude and distribution of efficiency gains generated in multilateral linkages between permit markets. We provide... Read more
This policy brief analyses global trends in carbon taxation and differences in tax design around the world to draw out lessons for the design of a possible new carbon tax for the UK, as the country plans how to meet its ambitious new net-zero emissions target and how it prices carbon after Brexit. Read more
This written evidence was submitted on 12 July 2019 to the joint consultation into ‘The future of carbon pricing’, being carried out by the UK, Scottish and Welsh Governments, and the Department of Agriculture, Environment and Rural Affairs in Northern Ireland. Read more
This paper develops a novel theoretical tool with which a jurisdiction can evaluate the economic gains it can expect to obtain by linking its emissions trading system (ETS) to one, two or many ETSs at the same time, and proposes a reason why the global market remains a distant dream. Read more
Linkages between Emissions Trading Systems are deemed an important element of the future climate policy landscape. They are, however, difficult... Read more
Emissions trading, also known as ‘cap and trade’, is a cost-effective way of reducing greenhouse gas emissions. To incentivise firms... Read more
Presentation for Brussels launch event, 05 December 2017 Read more
This report investigates the extent to which current policies and institutional arrangements are fit for purpose for the new decarbonisation phase into which the EU is entering. It summarises the main findings from the Statkraft research programme. Read more